OBAMA’S BUDGET DOOMS HIS RECOVERY PLAN
The draconian tax increases on the segment of the population that pays most of the taxes, generates most of the jobs, employs most of the workforce, and accounts for much of the consumer spending will chill whatever small warmth the stimulus package can generate. How can Obama pretend that he wants to encourage confidence among bankers and consumers while he regulates them, taxes them, and vilifies them? His tax increases make it clear that he is less interested in solving the recession and the financial crisis than he is in vindicating his political agenda of redistribution of wealth and income. The price of this policy will be lost growth and lost jobs.